RCA files lawsuit against 6 significant German banks
(MENAFN) According to court records cited by Interfax news agency on Tuesday, RusChemAlliance (RCA), a joint venture with 50 percent ownership from Russia's Gazprom, has filed a lawsuit against 6 significant German banks on a 2021 contract that could not be completed because of restrictions.
On June 27, as reported by Interfax, a claim was submitted to the St. Petersburg and Leningrad Region Arbitration Court against Deutsche bank AG for the amount of USD244.5 million in rubles.
On June 29, a further claim was made against Commerzbank AG for an amount of USD96 million.
A contract for the building of a gas processing facility in the Leningrad Region was signed in July 2021 by RCA, which is partially owned by the gas producing company RusGazDobycha. Although Linde received an advance payment from RCA, the German company terminated the project in June of last year as a result of European Union penalties.
Guarantor banks, according to RCA, failed to fulfill their responsibilities, citing penalties.
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